Bitcoin Bull Cathie Wood Made a Statement in Support of Ethereum!

With the support for Bitcoin (BTC), the founder of ARK Invest Cathie Wood expressed her support for the largest altcoin Ethereum (ETH).

Cathie Wood stated that, although she may not grasp all the technical details, the Ethereum Foundation is making progress in the right direction with its recent efforts to enhance scalability and privacy.

Wood's statements came at a time when the cryptocurrency market is experiencing significant growth and institutional adoption is increasing.

Support for Ethereum from Cathie Wood!

Wood highlighted the efforts of the Ethereum Foundation to improve scalability and privacy, which are considered vital for Ethereum's dominance in the corporate sector.

Founder Cathie Wood said the following in a post from her X account:

"I believe that the Ethereum Foundation offers the right steps in terms of scalability and privacy to stay ahead in the corporate world."

This statement follows the announcement that the Ethereum Foundation will officially introduce plans to fully integrate zero-knowledge (zk) technology into Ethereum's L1, published on July 10.

Focus Areas of the Ethereum Foundation!

One of the key areas of focus for the Ethereum Foundation is scalability. Scalability refers to the capacity of the network to handle an increasing number of transactions without compromising on speed or security.

The Ethereum Foundation is actively working to increase scalability. It aims to meet the growing demand from institutional investors who require a reliable and efficient platform for ETH transactions.

The Ethereum Foundation places great importance on privacy as well as scalability. Privacy has become a significant concern for institutional investors. At this point, it aims to create a secure environment for institutional transactions by improving ETH's privacy features, thereby building trust among its users.

Ethereum continues to trade at $3,020, with an increase of 2.3% in the last 24 hours.